Flight management systems market is predicted to grow at a CAGR of 7.2% during 2018-2023. The key driving forces includes technological advancements in avionic systems for future aircrafts and cohesive government policies. Technological advancement such as auto ground collision avoidance system has been boosting the flight management systems market. Additionally, other pivotal factors that are driving the global flight management systems market includes the improved safety standards in aviation industries and favourable government regulations backing it. The demand for global flight management systems by type such as very large, wide body, narrow body aircrafts and regional transport aircraft are increasing significantly across the globe. Global flight management systems market is widely adopted due to emerging demand for safety, security, utility & comfort. R&D by flight management systems market players such as GE Aviation, Honeywell, Jeppesen, Thales SA and Rockwell Collins are also creating scope for the market.
Investment in R&D development has been increased considerably by global flight management systems market players which created scope for innovative flight management systems. Emerging economies such as India, China, Japan and Korea are expected to create considerable opportunities for global flight management systems market. APAC Countries such as China, India and Japan have significant scope in flight management systems market due to cohesive government policies which will attract major players for investment. Technological advancement, declining crude oil prices and rise in adoption of flight management systems across the globe are creating scope for the market in APAC region. Demand for efficient fuel management and falling crude oil prices will create huge opportunity for global flight management systems market.
Moreover, North America has the highest contribution in global flight management systems market due to significant adoption of flight management systems followed by Europe. Untapped APAC region such as China, India, Japan and Korea are expected to create huge opportunity for global flight management systems market due to huge demand for aircrafts and their maintenance. APAC region is predicted to be a lucrative region due to huge demand of flight management systems, favorable government regulations, low-cost manufacturing, cheap labor and improved infrastructure. Developed economies such as US, UK and other EU nations have favorable government policies for safety, security and comfort which are driving the global flight management systems market.
Global flight management systems market key players include: Esterline Technologies Corporation, Garmin Ltd, General Electric, Honeywell International Inc., Jeppesen Inc., Lufthansa Systems, Navtech, Rockwell Collins, Thales Group, and Universal Avionics. R&D, partnership, product launch and collaboration are the key winning strategies adopted by global flight management systems market players across the globe.
Research Methods and Tools:
The market study of flight management has been incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analysing various regional players, regional tax laws and policies, consumer behaviour and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
Secondary sources include
- Financial/annual reports of companies involved in the market
- Forward looking statement of key flight management systems market players
- Authentic Public Databases
- Average cost analysis of services on the basis of geography
- Whitepapers, research-papers and news blogs
- Company websites and their product catalogue.
The report is intended for global flight management systems market players, potential entrants, diagnostic laboratories, healthcare provider, universities for overall market insights. The report provides in-depth analysis on pricing, market size, market determinants and competitive landscape. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models such as PEST analysis delivering insights into the market for better business decisions.
- Global Flight Management Systems Market, by Types of Aircraft
- Global Flight Management Systems Market, by Maintenance
- Global Flight Management Systems Market, by Hardware
The report covers:
- Comprehensive research methodology of global flight management systems market
- In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global flight management systems market
- Insights about market determinants which are stimulating the global flight management systems market
- Detailed and extensive market segments with regional distribution of forecasted revenues
- Extensive profiles and recent developments of market players